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The supply equation for a certain commodity is $x=4 p-3 .$ The demand equation is $2 x+4 p=15 .$ The commodity suddenly increases in popularity which is reflected in an upward adjustment in the demand curve. This adjustment creates a new demand curve, parallel to the old one and such that at every price the demand is 3 units higher than previously. Find the new demand equation. How does this change effect the point of market equilibrium?

$$2 x+4 p=21$$

Algebra

Chapter 1

Functions and their Applications

Section 6

Economic Functions

Functions

McMaster University

Baylor University

University of Michigan - Ann Arbor

Idaho State University

Lectures

01:43

In mathematics, a function is a relation between a set of inputs and a set of permissible outputs with the property that each input is related to exactly one output. An example is the function that relates each real number x to its square x^2. The output of a function f corresponding to an input x is denoted by f(x).

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have you given problem? We know that um the supply equation, First one commodity is going to be x equals four p -3. And the demand equation is going to be uh two X plus four people 15. So we want to find a new demand equation Um that's parallel to the old one. So new demand equations. New parallel to the old one. Um but three units higher than previously. So what we can do is just Go to two x plus four p equals 15 and recognize that if we saw for P we're going to have a slope of this will be P equals and negative one half X Last 15/4. If we want to increase it by three units and what will end up getting as a result is Um adding 12 here. So 27. So we end up getting this is our new equation. Um So that's your final answer.

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